February 6, 2018 — Hong Kong is the global hub for the more than USD $1 billion Live Reef Food Fish Trade (LRFFT), much of it unreported and unregulated with serious consequences for vulnerable species, food security and livelihoods in Southeast Asia, according to a report released on February 1.

Published jointly by the Swire Institute of Marine Sciences at the University of Hong Kong (HKU), ADM Capital Foundation and the WWF Coral Triangle Program, the report, Going, Going Gone: The Trade in Live Reef Food Fish, says popular wild-caught reef fish species could be gone from diners’ tables within our lifetime if we do not act now to stem this burgeoning and often illegal trade.

“The rate at which we are taking reef fish from our oceans, including juveniles, is simply not sustainable,” said Dr Yvonne Sadovy, a professor of biological sciences at HKU and lead author of the report. “The LRFFT is symptomatic of the pressure being put on these fish resources and the potentially devastating effects on livelihoods. As the epicentre of the LRFFT, it is critical Hong Kong takes steps to regulate before it is too late.”

Live seafood is part of the culinary tradition of southern China, with most species coming largely from the seas of Southeast Asia. Demand for these attractive and increasingly rare fish species, eaten mostly at banquets and as displays of wealth, has grown with expanding affluence in Mainland China.

Although the trade is not large by global fisheries standards, it is disproportionately valuable, estimated between 20,000 and 30,000 metric tonnes (mt) annually in the trade hub of Hong Kong, and valued in excess of USD 1 billion, according to the report. This does not count illegal trade. The trade supplies a luxury seafood market with high retail value fishes, with some species, such as Napoleon fish, fetching in excess of USD 600 per kg.